Press Release
Press Release
The rising application of smart city platform in the transportation sector is driving the market. These platforms help save time amid heavy traffic and also help passengers conserve energy due to their advanced features. In addition, smart city platform provides significant environmental benefits. Hence, the stringent government regulations aimed towards curbing carbon emissions are anticipated to be a major factor driving the market growth in the forecast period.
In October 2021, Microsoft Corporation (NASDAQ: MSFT) announced partnership with the Manila Municipal Government to accelerate digital transformation in Manila, the Philippines’ capital city, and bolster Microsoft’s goal of strengthening the city works internally. The parentship will aim at optimising the city’s “Go Manila” platform.
In terms of region, North America is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by technological advancements and the presence of well-established infrastructure in various countries. The increased penetration of the internet of things (IoT) in the region is anticipated to be a major driving factor for the market expansion. Moreover, the growing research and development activities in the IT sector in countries like the United States is likely to provide impetus to the market in the forecast period.
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The major players in the global smart city platform market are Hitachi Vantara LLC, Huawei Technologies Co., Ltd., Schneider Electric SE, Siemens Aktiengesellschaft, Cisco Systems, Inc., and IBM Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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